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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 30, 2018
Sep. 24, 2017
Cash flows from operating activities:    
Net income $ 255,031 $ 584,242
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 211,450 204,625
Noncash loss on early extinguishment of debt 6,037 0
Foreign currency transaction loss related to borrowing arrangements 4,221 6,830
Amortization of premium related to Senior Notes (501) 0
Accretion of discount related to Senior Notes 567 0
Asset impairment 884 4,947
Gain on property disposals (452) (540)
Gain on equity-method investments (48) (44)
Share-based compensation 9,259 2,454
Deferred income tax expense (benefit) (2,147) 25,768
Changes in operating assets and liabilities:    
Trade accounts and other receivables (3,437) (146,477)
Inventories 64,787 (149,806)
Prepaid expenses and other current assets (15,428) (15,377)
Accounts payable, accrued expenses and other current liabilities 78,107 (36,105)
Income taxes (175,569) 149,063
Long-term pension and other postretirement obligations (9,087) (9,660)
Other operating assets and liabilities 1,606 (1,429)
Cash provided by operating activities 425,280 618,491
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (231,875) (258,364)
Purchase of acquired businesses, net of cash acquired 0 (658,520)
Proceeds from property disposals 2,707 2,585
Cash used in investing activities (229,168) (914,299)
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term borrowings 703,090 1,013,662
Payments on revolving line of credit, long-term borrowings and capital lease obligations (1,071,441) (609,678)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation 5,558 5,038
Payment of capitalized loan costs (11,081) (4,550)
Purchase of common stock under share repurchase program 0 (14,641)
Cash provided by (used in) financing activities (373,874) 389,831
Effect of exchange rate changes on cash and cash equivalents 4,071 15,084
Increase (decrease) in cash, cash equivalents and restricted cash (173,691) 109,107
Cash, cash equivalents and restricted cash, beginning of period 589,531 297,523
Cash, cash equivalents and restricted cash, end of period $ 415,840 $ 406,630